Yesterday market fluctuated on both the sides.
The inflation data helped the beleaguered bulls to recapture some of the lost ground. The data released by the government showed that non-food manufacturing inflation or core inflation eased to three-year low of 3.8% in February 2013 from 4.1% in January 2013. The rate cut hope created panic among the bears mind rushing them to close their bearish bets. The Nifty which hit a low of 5,791.75 settled at 5,908.95. The Nifty has swung more than 100 points. Can we expect an up move now?

Shankar Sharma, Vice chairman and joint managing director, First Global says that the markets are now heading towards a bear phase. Another market player Ramesh Damani says that the market will be bullish for the rest of the year. Retail investors waste their time in hearing the opinions of the market players but fail to read the market. It is better to check the charts to find the likely market direction rather than subscribing to the opinions of the market players.

What does the chart say?

Of course we have been informing about the market on daily basis and you would know that the bounce can be trusted only when Nifty crosses and closes above 5950. Let us report more about the market on Monday.